|
The interesting question will be when the first merchant webmaster contests a refund.
Who really purchased the item? The merchant or G? The merchant never seen the credit card, nor had the opportunity to "verify" validity of the purchase, authority of the individual to make the purchase, etc. etc.
I have also seen some other development in credit card industry, possibly as a response to PayPal growth and now Checkout.
Temporary virtual credit card - in essence, the bank creates a "virtual credit card" complete with name, card number, CVV2, expiry date. The catch is, the card is associated with a single vendor, and a credit limit can be set (and changed), and the expiry date can be set (i.e. if the real-card expiry is 12/09, the phantom card can be 8/06)! There is no limit how many phantom cards a real-card holder can create, and link to their real-card.
If Checkout can do something similar it would become a PayPal killer.
|
